Burning Rock director reports initial share holdings
Burning Rock Biotech Ltd director Zhang Zhihong filed an initial ownership report showing direct holdings of 1,061,990 Ordinary Shares and multiple option awards.
Rhea-AI Filing Summary
Burning Rock Biotech Ltd director Zhang Zhihong filed an initial ownership report showing direct holdings of 1,061,990 Ordinary Shares and multiple option awards. These include options over 78,504 and 117,755 Ordinary Shares at an exercise price of $3.33 expiring on September 26, 2032, plus additional options over 51,469, 41,000, and 56,000 shares at an exercise price of $0.0002 expiring between 2033 and 2035. Several grants vest only if Burning Rock’s valuation and the director’s employment and performance conditions are met.
Positive
- None.
Negative
- None.
Insider Trade Summary
10 transactions reported
Mixed
10 txns
Insider
Zhang Zhihong
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | OPTIONS (RIGHT TO BUY) | -- | -- | -- |
| holding | OPTIONS (RIGHT TO BUY) | -- | -- | -- |
| holding | OPTIONS (RIGHT TO BUY) | -- | -- | -- |
| holding | OPTIONS (RIGHT TO BUY) | -- | -- | -- |
| holding | OPTIONS (RIGHT TO BUY) | -- | -- | -- |
| holding | OPTIONS (RIGHT TO BUY) | -- | -- | -- |
| holding | OPTIONS (RIGHT TO BUY) | -- | -- | -- |
| holding | OPTIONS (RIGHT TO BUY) | -- | -- | -- |
| holding | OPTIONS (RIGHT TO BUY) | -- | -- | -- |
| holding | Ordinary Shares | -- | -- | -- |
Holdings After Transaction:
OPTIONS (RIGHT TO BUY) — 737,246 contracts (Direct);
Ordinary Shares — 1,061,990 shares (Direct)
Footnotes (10)
- F1. On September 26, 2022, the Reporting Person was granted 78,504 share options, which will vest once (a) the valuation of the Issuer (based on the 60-day average closing share price of its publicly traded shares) reaches US$2 billion by the fifth anniversary of the date of grant (the "valuation target"), and (b) the Reporting Person remains employed by the Issuer at the time when the valuation target is achieved.
- F2. On September 26, 2022, the Reporting Person was granted 117,755 share options, which will vest once (a) the valuation of the Issuer (based on the 60-day average closing share price of its publicly traded shares) reaches US$2 billion by the fifth anniversary of the date of grant (the "valuation target"), (b) the Reporting Person remains employed by the Issuer at the time when the valuation target is achieved, and (c) the Reporting Person has been employed by the Issuer for five years from the date of grant.
- F3. On September 26, 2022, the Reporting Person was granted 78,504 share options, which will vest once (a) the valuation of the Issuer (based on the 60-day average closing share price of its publicly traded shares) reaches US$4 billion by the seventh anniversary of the date of grant (the "valuation target"), and (b) the Reporting Person remains employed by the Issuer at the time when the valuation target is achieved.
- F4. On September 26, 2022, the Reporting Person was granted 117,755 share options, which will vest once (a) the valuation of the Issuer (based on the 60-day average closing share price of its publicly traded shares) reaches US$4 billion by the seventh anniversary of the date of grant (the "valuation target"), (b) the Reporting Person remains employed by the Issuer at the time when the valuation target is achieved, and (c) the Reporting Person has been employed by the Issuer for five years from the date of grant.
- F5. On September 26, 2022, the Reporting Person was granted 78,504 share options, which will vest once (a) the valuation of the Issuer (based on the 60-day average closing share price of its publicly traded shares) reaches US$10 billion by the seventh anniversary of the date of grants (the "valuation target"), and (b) the Reporting Person remains employed by the Issuer at the time when the valuation target is achieved.
- F6. On September 26, 2022, the Reporting Person was granted 117,755 share options, which will vest once (a) the valuation of the Issuer (based on the 60-day average closing share price of its publicly traded shares) reaches US$10 billion by the seventh anniversary of the date of grants (the "valuation target"), (b) the Reporting Person remains employed by the Issuer at the time when the valuation target is achieved, and (c) the Reporting Person has been employed by the Issuer for five years from the date of grant.
- F7. On April 30, 2023, the Reporting Person was granted 102,938 share options, with 50%, 25% and 25% of the granted share options vesting on January 1, 2025, January 1, 2026 and January 1, 2027, respectively, subject to: (a) the Reporting Person's continued employment, and (b) the annual performance rating of the Reporting Person reaching at least 3.3 for each year from 2023 to 2026.
- F8. On April 30, 2024, the Reporting Person was granted 41,000 share options, with 50%, 25% and 25% of the granted share options vesting on January 1, 2026, January 1, 2027 and January 1, 2028, respectively, subject to: (a) the Reporting Person's continued employment, and (b) the annual performance rating of the Reporting Person reaching at least 3.3 for the year of 2024.
- F9. On April 30, 2025, the Reporting Person was granted 56,000 share options, with 50%, 25% and 25% on of the granted share options vesting January 1, 2027, January 1, 2028 and January 1, 2029, respectively, subject to: (a) the Reporting Person's continued employment, and (b) the annual performance rating of the Reporting Person reaching at least 3.3 for the year of 2025.
- F10. Each share option represents the right to receive, upon exercise, one ordinary share.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What does Zhang Zhihong’s Form 3 filing reveal about his BNR holdings?
The Form 3 shows Zhang Zhihong directly holds 1,061,990 Ordinary Shares of Burning Rock Biotech Ltd. It also lists several stock option grants over additional Ordinary Shares with specified exercise prices, expiration dates, and detailed performance and employment-based vesting conditions.
What stock options does Zhang Zhihong hold in Burning Rock Biotech (BNR)?
Zhang Zhihong holds options over 78,504 and 117,755 Ordinary Shares at an exercise price of $3.33 expiring on September 26, 2032. He also has options over 51,469, 41,000, and 56,000 shares at $0.0002 expiring between 2033 and 2035.
What are the performance conditions for Zhang Zhihong’s large option grants at BNR?
Several grants of 78,504 and 117,755 share options vest only if Burning Rock’s valuation, based on a 60‑day average share price, reaches $2 billion, $4 billion, or $10 billion by specified anniversaries, and if Zhang remains employed and, for some grants, meets service-duration conditions.
How do the time-based option grants for Zhang Zhihong at BNR vest?
An April 30, 2023 grant of 102,938 options vests 50%, 25% and 25% on January 1, 2025, 2026 and 2027. Later grants of 41,000 and 56,000 options follow similar 50/25/25 schedules, subject to continued employment and minimum performance ratings.
AI-generated analysis. How Rhea-AI works. Not financial advice.
